World Steel in Figures 2017 Table of Contents Foreword
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World Steel Market
Confidential For the particpants. World Steel Market May, 2017 0 Confidential Introduction of NSSMC 1 Confidential Corporate History CY1857 CY1897 Japan’s first blast furnace went Sumitomo Cooper Plant was into Operation at Kamaishi. established. <Corporate’s inauguration> CY1901 CY1912 The state-owned Yawata Steel Japan’s first private company Works began operation. started manufacturing cold- CY1970 drawn seamless steel pipes. Yawata Iron & Steel and Fuji CY1949 Iron & Steel merged to from Shin-Fuso Metal Industries, Ltd. Nippon Steel Corporation. been established. <Corporate’s foundation> CY2002 Announced alliances among NSC and SMI, Kobe Steel CY2011 Agreed to commence consideration of merger October 1, 2012 2 Confidential Overview of NSSMC NIPPON STEEL & SUMITOMO METAL CORPORATION Trade Name “NSSMC” Representative Director, Chairman and CEO Shoji MUNEOKA Representative Representative Director, President and COO Hiroshi TOMONO L o c a t i o n of H e a d O f f i c e Chiyoda-ku, Tokyo, Japan Foundation Day October 1, 2012 Steelmaking and steel fabrication / Engineering / B u s i n e s s Chemicals / New materials / System solutions Stated Capital 419.5 bn yen Fiscal Year End March 31 3 Confidential The World Top-Ten Players by Crude Steel Production unit:millions of tonnes 2002 2007 2011 2014 2015 vs 2013 vs 2014 1 Arcelor (EU) 44 1 ArcelorMittal (EU) 116 1 ArcelorMittal (EU) 97 1 ArcelorMittal (EU) 98 +2% → 1 ArcelorMittal (EU) 97 -1% 2 LNM Group (EU) 35 2 Nippon Steel (JPN) 36 2 Hebei Group (CHN) 44 2 NSSMC (JPN) 49 -2% ↑ 2 Hesteel -
金 蝶 國 際 軟 件 集 團 有 限 公 司 (Incorporated in the Cayman Islands with Limited Liability) (Stock Code: 268)
KINGDEE INTERNATIONAL SOFTWARE GROUP COMPANY LIMITED Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement. KINGDEE INTERNATIONAL SOFTWARE GROUP COMPANY LIMITED 金 蝶 國 際 軟 件 集 團 有 限 公 司 (Incorporated in the Cayman Islands with limited liability) (Stock Code: 268) ANNUAL RESULTS ANNOUNCEMENT FOR THE YEAR ENDED 31 DECEMBER 2019 AND PAYMENT OF FINAL DIVIDEND OUT OF SHARE PREMIUM ACCOUNT The board (the “Board”) of directors (the “Directors”) of Kingdee International Software Group Company Limited (“Kingdee International” or the “Company”) is pleased to announce the audited consolidated results of the Company and its subsidiaries (the “Group”) for the year ended 31 December 2019, together with the comparative audited consolidated figures for the year ended 31 December 2018 are as follows: Financial highlights for the year ended 31 December 2019 - Revenue increased by approximately 18.4% compared with 2018 to approximately RMB3,325,590,000. - Profit attributable to owners of the Company decreased by approximately 9.6% compared with 2018 to approximately RMB372,580,000. - Net cash generated from operating activities increased by approximately 6.3% compared with 2018 to approximately RMB962,927,000. - Basic earnings per share attributable to owners of the Company during the year decreased by approximately 12.7% to approximately RMB 11.52 cents (2018: RMB13.19 cents). -
The Nature and Performance of China's State-Owned Enterprises
The Nature and Performance of China's State-owned Enterprises Paul C. Hubbard Submitted in fulfilment of the requirements for the degree of Doctor of Philosophy of the Australian National University November 2018 ii Candidate's Declaration This thesis contains no material which has been accepted for the award of any other degree or diploma in any university. To the best of the author’s knowledge, it contains no material previously published or written by another person, except where due reference is made in the text. Paul C. Hubbard Date: 11 November 2018 Paul C. Hubbard The Nature and Performance of China's State-owned Enterprises iii Acknowledgements This thesis is the main publication from three years I spent as a Sir Roland Wilson Scholar at The Australian National University, from 2014–2017. The scholarship, jointly funded by the Commonwealth and the Sir Roland Wilson Foundation, supported my leave from the Department of the Treasury. My research proposal concerning the role of China’s state-owned enterprises combined my longstanding interest in China with what was then an emerging public policy issue in Australia – how to understand the ever-increasing wave of Chinese investment coming to Australia. In some ways this was an echo of Sir Roland’s own scholarship, doctoral investigation of capital imports and the terms of trade (Wilson, 1931). I particularly thank Lauren Bartsch, Bruce Chapman, Jenny Corbett, Ted Crook, Melanie Fischer, Ken Henry, Martin Parkinson, Steve Sedgwick, Joan Uhr, Michael Wesley, and others associated with the Sir Roland Wilson Foundation, and especially my fellow Sir Roland Wilson PhD Scholars. -
World Steel in Figures 2018 Table of Contents Foreword
WORLD STEEL IN FIGURES 2018 TABLE OF CONTENTS FOREWORD Foreword ...........................................................................................3 To say that the steel industry is experiencing interesting times would be Steel impact .......................................................................................4 an understatement. However, progress is being made at various levels. Steel initiatives ....................................................................................6 At the recent meeting of the Global Forum for Steel Excess Capacity (GFSEC), a G20 initiative, six important principles were agreed by CRUDE STEEL PRODUCTION ministers of G20 countries. All are focused around ensuring that a level World crude steel production, 1950 to 2017 ........................................7 playing field should exist for steelmakers in all countries and that markets Top steelmakers, 2017 ........................................................................8 should remain free and fair for steel to be traded between countries. Major steel-producing countries, 2016 and 2017 .................................9 I am hopeful that the heightened level of trade tensions will abate and Crude steel production by process, 2017 .......................................... 10 that our positive outlook for steel demand will remain. The Short Range Continuously-cast steel output, 2015 to 2017 ................................... 11 Outlook for the next 18 months suggests 2018 growth of 1.8% followed Monthly crude steel production, -
If You Want to Get Rich, First Build a Road
If you want to get rich, first build a road A study on Chinese trade network building in Eurasia Marcus Syk Supervisor: Fredrik Sjöholm Department of Economics, Lund University NEKH01, Bachelor’s Thesis May 2018 Abstract This paper examines the effect of Chinese OFDI on China’s bilateral trade with affected countries, to investigate the possible build-up of a Eurasian China-centric trade network. The main contribution of the paper is to have combined economics, war theory and geopolitics to analyse and produce a theoretical framework for it. Whereas there is a lack of consensus on the effect of FDI on trade in general, this study suggests that the influence of the CCP over the Chinese economy allows the party to use Chinese OFDI for its own interests. Furthermore, trade has become a vital interest to the CCP. Another problem for the CCP is the increasing geopolitical tension with primarily USA. According to this paper, the formation of a China- centred trade network would help the Chinese domestic economic situation, increase Chinese influence in Asia and increase the economic resilience of China. All this would help address the aforementioned concerns facing the party. This was tested empirically using a modified version of the gravity model of trade. The result was in line with the theoretical prediction but not in line with the prediction of the gravity model. This could not be explained but was still taken to support the theory, thus opening for future studies on the subject. Keywords: OFDI, trade, China, Belt and Road Initiative, China-centric trade network Acknowledgments Warm thanks are in due place to all the people who have helped with the composing of this mediocre piece of academic work. -
Jiangsu Shagang (Group) Company Limited Initial Issuer Report
Rating Report 22 June 2021 Jiangsu Shagang (Group) Company Limited Initial Issuer Report Lianhe Ratings Global Limited (“Lianhe Global”) has assigned ‘BBB+’ global scale Long-term Issuer Credit Rating to Jiangsu Shagang (Group) Company Summary Limited; Outlook is Stable Issuer Rating BBB+ Outlook Stable Summary Location China Industry Steel The Issuer Rating reflects Jiangsu Shagang (Group) Company Limited’s (“Shagang” or “the Date 22 June 2021 company”) competitive market position as the largest private steel producer in China, above average operating efficiency and above industry-average utilization rates, and strong operating cash flow. The company’s rating is constrained by its low raw materials self-sufficiency which makes it vulnerable to commodity price fluctuations, slow margin growth in key products amid rising raw materials costs, and relatively high yet stabilizing financial leverage in relation to its “BBB” category credit profile. Operating Data: Jiangsu Shagang (Group) Company Limited The Stable Outlook reflects our expectation that Shagang will sustain a stable and sizable scale of operation, continue to exhibit a prudent manner in reducing and containing its financial 31 Dec 2019 31 Dec 2020 leverage, and maintain its positive operating cash flow and liquidity position. Total Revenue 144,231 152,911 (RMB: in million) Key Rating Rationales Production Capacity1 76 76 (Tonnes: in million) Leading and the Largest Private Steel Producer in China with Sizeable and Stable Operation: Shagang is one of the largest steel producers in the world and China’s largest private Utilization Rate 98.4% 100% (Pig Iron) steel producer, with a total production capacity of crude steel of c. -
1 1 China Petroleum & Chemical Corporation 1913182 70713
2011 Ranking 2010 Company Name Revenue (RMB, million) Net profit (RMB Million) Rankings (x,000,000) (x,000,000) 1 1 China Petroleum & Chemical Corporation 1913182 70713 2 2 China National Petroleum Corporation 1465415 139871 3 3 China Mobile Limited 485231 119640 China Mobile Revenue: 485,231,000,000 4 5 China Railway Group Limited 473663 7488 5 4 China Railway Construction Corporation Limited 470159 4246 6 6 China Life Insurance Co., Ltd. 388791 33626 7 7 Bank of China Ltd 380821 165156 8 9 China Construction Company Limited 370418 9237 9 8 China Construction Bank Corporation 323489 134844 10 17 Shanghai Automotive Group Co., Ltd. 313376 13698 11 . Agricultural Bank of China Co., Ltd. 290418 94873 12 10 China Bank 276817 104418 China Communications Construction Company 13 11 Limited 272734 9863 14 12 China Telecom Corporation Limited 219864 15759 China Telecom 15 13 China Metallurgical Co., Ltd. 206792 5321 16 15 Baoshan Iron & Steel Co., Ltd. 202413 12889 17 16 China Ping An Insurance (Group) Co., Ltd. 189439 17311 18 21 China National Offshore Oil Company Limited 183053 54410 19 14 China Unicom Co., Ltd. 176168 1228 China Unicom 20 19 China PICC 154307 5212 21 18 China Shenhua Energy Company Limited 152063 37187 22 20 Lenovo Group Limited 143252 1665 Lenovo 23 22 China Pacific Insurance (Group) Co., Ltd. 141662 8557 24 23 Minmetals Development Co., Ltd. 131466 385 25 24 Dongfeng Motor Group Co., Ltd. 122395 10981 26 29 Aluminum Corporation of China 120995 778 27 25 Hebei Iron and Steel Co., Ltd. 116919 1411 28 68 Great Wall Technology Co., Ltd. -
Gr Ande C Hine
Avril 2018 Bulletin d’analyse économique Sommaire VERS UN RETOUR A L’APPRECIATION DU RMB ET UNE LIBERALISATION « ORDONNEE » DU TAUX DE CHANGE ET DU COMPTE DE CAPITAL EN 2018 APRES TROIS ANS DE RECUL ? .................................. 2 La suspension inopinée au début janvier 2018 du facteur d’ajustement contra-cyclique (FCC), semble signaler le retour à la confiance de la banque centrale chinoise (ou People bank of Chine, PBoC) en ce GRANDE CHINE GRANDE qui concerne les perspectives de stabilisation du RMB au cours des prochains mois, ainsi qu’un probable renforcement des facteurs de marché dans la détermination du taux de change. Le FCC a été le point d’orgue des différentes étapes de gestion contrôlée du taux de change du RMB depuis 2015. Dans quelle mesure sa suspension prélude-t-elle d’un accroissement de l’incidence des forces de marché dans les évolutions du taux de change ? LE PROGRAMME D’ECHANGE DE DETTES CONTRE ACTIONS SEMBLE POUR LE MOMENT PRINCIPALEMENT ASSAINIR LES BILANS DES ENTREPRISES D’ETAT ET DES GRANDES BANQUES ....... 9 Dans le contexte d’une croissance inquiétante de l’endettement global de l’économie chinoise, les autorités chinoises ont fait de la lutte contre l’endettement des entreprises, en particulier publiques, la « priorité des priorités ». Parmi les principaux outils mis en place à cette fin figure un programme de dettes contre actions (ou Debt to equity swap, DES), réminiscence d’un programme de la fin des années 90 mis en œuvre avec un certain succès dans un contexte en partie similaire. Après des débuts difficiles, le programme semble être appelé à se déployer pleinement en 2018, avec un total d’environ 1 600 Mds RMB de créances annoncées fin 2017 comme devant être échangées au titre du DES (250 Mds USD, 2% du PIB, 1% des crédits bancaires). -
Carbon and Certain Alloy Steel Wire Rod from the People's Republic of China
UNITED STATES DEPARTMENT OF COMMERCE lntor·national Tr·ade Administr·ation Wusl•ngron. DC. 20230 A-570-012 Investigation POI: 7/1/2013- 12/31/2013 Public Document AD/CVD/11: BCS/BJC August 29, 2014 MEMORANDUM TO: Paul Piquado Assistant Secretary for Enforcement and Compliance FROM: Gary Taverman ~ Associate Deputy Assistant Secretary for Antidumping and Countervailing Duty Operations SUBJECT: Decision Memorandum for the Preliminary Determination of the Antidumping Duty Investigation of Carbon and Certain Alloy Steel Wire Rod from the People's Republic of China SUMMARY The Department of Commerce {Department) preliminarily determines that carbon and certain alloy steel wire rod (steel wire rod) from the People's Republic of China {PRC) is being, or is likely to be, sold in the United States at less than fair value {LTFV), as provided in section 733 of the Tariff Act of 1930, as amended (the Act). The estimated margins of sales at LTFV are shown in the "Preliminary Determination" section of the accompanying Federal Register notice. BACKGROUND On January 31,2014, the Department received an antidumping duty (AD) petition concerning imports of steel wire rod from the PRC filed in proper form by ArcelorMittal USA LLC, Charter Steel, Evraz Pueblo (formerly Evraz Rocky Mountain Steel), Gerdau Ameristeel US Inc., Keystone Consolidated Industries, Inc., and Nucor Corporation {collectively, the petitioners). 1 The Department initiated an AD investigation of steel wire rod from the PRC on February 20, 2014? In the Initiation Notice, the Department -
Complaint Under Section 337 of the Tariff Act of 1930,As Amended
UNITED STATES INTERNATIONAL TRADE COMMISSION WASHINGTON, D.C. In the Matter of CERTAIN CARBON AND ALLOY Docket N0. 337-TA STEEL PRODUCTS COMPLAINT UNDER SECTION 337 OF THE TARIFF ACT OF 1930,AS AMENDED Complainant Proposed Respondents United States Steel Corporation Hebei Iron and Steel Group Co., Ltd. 600 Grant Street 385 Sports South Avenue ’ Pittsburgh, PA 15219-2800 Shijiazhuang City Tel. (412) 433-1121 050023 Hebei Province, China Hebei Iron & Steel Group Hengshui Strip Rolling Co., Ltd. N0. 29 Yuhua West Road Tangcheng District, Hengshui City 053000 Hebei Province, China Hebei Iron & Steel (Hong Kong) International Trade Co., Ltd. Suite 2705, 27th Floor, N0. 9 Queen’s Road Central Hong Kong, China Shanghai Baosteel Group Corporation Baoshan Iron & Steel Building, 370 Pudian Pudong New Area 200122 Shanghai, China Baoshan Iron & Steel C0., Ltd. Baosteel Administrative Center, No. 885 Fujin Road Baoshan District 201900 Shanghai, China Baosteel America Inc. 85 Chestnut Ridge Road Montvale, NJ 07645 Jiangsu Shagang Group Yongxin Road Zhangjiagang 215625 Jiangsu Province, China Jiangsu Shagang International Trade C0., Ltd. 4,5/F, Shagang Building Jinfeng Town, Zhangjiagang 215625 Jiangsu Province, China Anshan Iron and Steel Group 77 Dong Shan Street Tie Dong District, Anshan City 114009 Liaoning Province, China Angang Group International Trade Corporation No. 322 South Zhonghua Road Tiedong District 114002 Anshan, Liaoning Province, China Angang Group Hong Kong Co. Ltd. Room 3412-13, 34/F Convention Plaza Office Tower, 1 Harbour Road Wanchai, Hong Kong, China Wuhan Iron and Steel Group Corp. Changqian, Qingshan District 430083 Hubei Province, China Wuhan Iron and Steel Co., Ltd. -
The Reform Myth: How China Is Using State Power to Create the World’S Dominant Steel Industry
THE REFORM MYTH: HOW CHINA IS USING STATE POWER TO CREATE THE WORLD’S DOMINANT STEEL INDUSTRY Prepared for: The American Iron & Steel Institute The Steel Manufacturers Association Prepared by: Alan H. Price, Esq. Timothy C. Brightbill, Esq. Christopher B. Weld, Esq. Tessa V. Capeloto, Esq. October 2010 Wiley Rein LLP 1776 K Street NW Washington, DC 20006 TABLE OF CONTENTS Page I. INTRODUCTION .............................................................................................................. 2 II. THE GROWTH AND EVOLUTION OF THE CHINESE STEEL INDUSTRY ............. 4 III. CHINESE GOVERNMENT OWNERSHIP AND CONTROL OF THE STEEL INDUSTRY ........................................................................................................................ 5 A. Chinese Government Ownership of the Steel Industry Continues to Increase Despite China’s WTO Commitments Regarding Market Reforms .........................5 B. The Government Manages and Controls Virtually Every Aspect of the Steel Industry Through Policy Directives and Foreign Investment Restrictions ............................................................................................................10 1. China’s Industrial Plans and Other Policy Directives for the Steel Industry .............................................................................................11 2. Restrictions on Foreign Investment ...........................................................17 3. Raw Material Restrictions..........................................................................19 -
Steel Imports Report: China May 2020 Background China Was the World’S Eight Largest Steel Importer in 2018
Steel Imports Report: China May 2020 Background China was the world’s eight largest steel importer in 2018. In 2019, China imported 15.3 million metric tons of steel, an 8 percent increase Quick Facts: from 14.2 million metric tons in 2018. China’s imports represented ● Imported 15.3 million about 4 percent of all steel imported globally in 2019 (according to metric tons in 2019 available data). The volume of China’s 2019 steel imports was about 60 percent that of the world’s largest importer, the United States. In value ● 30.9% decline in steel terms, steel represented under one percent of the total goods imported imports since 2009 into China in 2019. ● 2019 import volume up In 2019, China imported steel from over 80 countries and territories. 8.2% and import value The ten countries highlighted in the map below represent the top down 12% since 2018 import sources for China’s imports of steel, with each sending more ● Import penetration down from 1.63% in 2018 to 1.62% in 2019 ● Top three import sources: Japan, South Korea, Taiwan ● Largest producers: China Baowu Group, HBIS Group and Shagang Group 1 Steel Imports Report: China Steel Trade Balance 35.0 In 2005, China’s steel exports and China's Trade in Steel Mill Products, Quarterly, imports were virtually in balance. Since 30.0 Millions of Metric Tons then, with the exception of 2009, China’s Exports exports have increased dramatically, 25.0 Imports growing 169.7 percent between 2009 and 2019. During the same period, China’s 20.0 imports have trended downwards, and decreased by 30.9 percent.